Greenland Energy responds to Fugazi Research report in shareholder letter

Greenland Energy said it is still in exploration stage, disputed Fugazi’s “uninvestable” framing and burn-rate figures, and cited Sproule ERCE 3U unrisked prospective resources of 13 billion barrels (high-end), 4.2 billion (best estimate) and 1.1 billion (low-end). It also highlighted warrants with $5.00 and $15.00 strike prices.